STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Seamless’ (OMX:SEAM) continues its rollout of the mobile payment service SEQR. In the past few weeks, the service has been launched in the Netherlands, Germany, Spain and France and now it is time for Italy. SEQR is today established in ten markets and in June the mobile payment service is planned to be launched in the US followed by UK. After the roll out in these countries SEQR is the first multijurisdictional mobile payment solution in the world with an addressable market of nearly 600 million people.
Spring 2015 has seen Seamless accelerate the roll out of SEQR expanding from five to ten markets. SEQR Shop Spot has made Seamless independent of the large retail chains physical integration, allowing for an extremely fast roll out. This speed of launch will continue and Seamless is planning to launch in the US in June, followed by UK.
- We have, through the recent expansion, created a footprint for SEQR that is the largest in the world. In June SEQR will be available in twelve markets with an adressable market of 600 million people. That is 11 more countries, and twice the adressable market, than the closest competitor. Now the work continues to also become the leader in the number of users, says Peter Fredell, CEO of Seamless.
The mobile service SEQR works both in stores and online, as well as through the service SEQR Shop Spot, which basically turns everything to a possible sales channel by scanning a QR code from any surface. This can be done through an ad, digital banner, a physical product or a TV commercial. With SEQR, users can also transfer money between each other without any cost. The feature works across national borders, which means that users can transfer money free of charge, to any other user within the same currency area where SEQR is available. In several of the European markets, SEQR is the first to offer this type of service.
SEQR will work in Italy from today and consumers can from the start buy products from several well-known brands through SEQR Shop Spot and transfer money free of charge within the Euro area. The roll out in Italy now continues by connecting more and more physical stores and online retailers to SEQR.
This information is such information that Seamless Distribution AB (publ) is required to disclose pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instrument Trading Act. The information was released for publication on 27 March 2015 at 07.50 am (CET).
ABOUT SEQR, by Seamless SEQR (se·cure) is Europe’s most used mobile payment solution in stores and online. SEQR enables anybody with a smartphone to pay in stores, at restaurants, parking lots and online, transfer money at no charge, connect loyalty programs, store receipts digitally and receive offers and promotions directly through one mobile app. Through the SEQR app, the user simply scans or taps a QR-code/NFC at check-out and approves the purchase by entering a PIN code. Fast, smooth and safe, SEQR’s payment solution enables merchants to lower interchange fees significantly compared to those charged by traditional card companies. SEQR’s unique transaction platform has been developed by Seamless, one of the world’s largest suppliers of payment systems for mobile phones.
Founded in 2001 and active in 26 countries, Seamless handles more than 3, 1 billion transactions annually through 525 000 active sales outlets. 6 200 merchants have chosen SEQR including the largest grocery chains, fast food chains and national retailer chains in the markets where SEQR is established. Currently SEQR is established in Sweden, Finland, Romania, Belgium, Portugal, Netherlands, Germany, Spain, France and Italy. In 2013, SEQR won the Mobile Money Global Award for Best Mobile Money Deployment in Europe. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker. www.seqr.com
This information was brought to you by Cision http://news.cision.com